Tesla in India: The world’s leading electric car manufacturer Tesla is fully ready to produce its cars in India. It is reported that a team from Elon Musk’s Tesla will come to India in late April or early May to look for land to set up a plant with an investment of about $3 billion. It is likely that Tesla’s team will visit Maharashtra, Gujarat and Tamil Nadu and will recommend setting up a plant wherever it finds suitable space in these three states.
Tesla plant to be set up in Maharashtra, Gujarat or Tamil Nadu
A report in the Financial Times has claimed that Elon Musk’s Tesla has prepared a plan of about $3 billion to set up a plant in India. To implement this plan, a Tesla team will come to India in late April or early May. The eyes of this team are fixed on Maharashtra, Gujarat and Tamil Nadu. This means that Elon Musk’s Tesla will set up its first plant in one of these three states.
Government introduced new EV policy
According to media reports, before coming to India, Elon Musk’s Tesla was pressurizing the government to cut import duty and interest rates. For this, last year Tesla officials had also talked to the officials of the Ministry of Heavy Industries. However, at that time the government had told Tesla officials in clear words that it would not make a separate policy only for Tesla. After this, the government has introduced a new electric vehicle policy in March 2024.
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What is the provision in EV policy
While announcing the new EV policy in March this year, the Indian government had said that if a company invests 500 million dollars in the country and starts production in India within three years, then it will be given exemption in import tax. Tesla had said in July last year that it wants to make an EV car worth about 24 thousand dollars in India. In June last year, Tesla CEO Elon Musk also met Prime Minister Narendra Modi.
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